Oak Thistle LLC purchased a new position in Pure Storage, Inc. (NYSE:PSTG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,463 shares of the technology company's stock, valued at approximately $1,196,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. ORG Wealth Partners LLC bought a new position in shares of Pure Storage during the 3rd quarter worth approximately $31,000. Larson Financial Group LLC grew its holdings in Pure Storage by 49.1% in the third quarter. Larson Financial Group LLC now owns 644 shares of the technology company's stock worth $32,000 after purchasing an additional 212 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Pure Storage by 40.9% during the third quarter. Venturi Wealth Management LLC now owns 754 shares of the technology company's stock worth $38,000 after purchasing an additional 219 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Pure Storage during the 3rd quarter valued at $50,000. Finally, Covestor Ltd boosted its position in shares of Pure Storage by 175.3% in the 3rd quarter. Covestor Ltd now owns 991 shares of the technology company's stock worth $50,000 after purchasing an additional 631 shares in the last quarter. 83.42% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Barclays upped their target price on Pure Storage from $56.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. Citigroup increased their price objective on shares of Pure Storage from $63.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. boosted their target price on shares of Pure Storage from $60.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Evercore ISI raised their price target on shares of Pure Storage from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Guggenheim boosted their price objective on shares of Pure Storage from $72.00 to $93.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Pure Storage presently has an average rating of "Moderate Buy" and a consensus price target of $72.70.
Get Our Latest Analysis on PSTG
Pure Storage Price Performance
Shares of Pure Storage stock traded up $1.57 during trading hours on Wednesday, reaching $64.82. The stock had a trading volume of 2,354,832 shares, compared to its average volume of 2,383,970. The company has a current ratio of 1.77, a quick ratio of 1.74 and a debt-to-equity ratio of 0.07. Pure Storage, Inc. has a twelve month low of $35.35 and a twelve month high of $70.41. The stock's 50 day moving average is $58.91 and its 200 day moving average is $56.69. The firm has a market capitalization of $21.15 billion, a PE ratio of 170.58, a PEG ratio of 7.69 and a beta of 1.09.
Insiders Place Their Bets
In other Pure Storage news, insider Ajay Singh sold 19,972 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $61.58, for a total value of $1,229,875.76. Following the completion of the sale, the insider now owns 262,144 shares in the company, valued at approximately $16,142,827.52. This represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Colgrove sold 100,000 shares of the business's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $57.32, for a total value of $5,732,000.00. Following the transaction, the insider now owns 300,000 shares in the company, valued at approximately $17,196,000. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 237,178 shares of company stock worth $14,603,746. 6.00% of the stock is owned by corporate insiders.
About Pure Storage
(
Free Report)
Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.
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